Zcash is a global and privacy-oriented blockchain developed by Zooko Wilcox in 2016. ZEC is the cryptocurrency used on the Zcash platform. The network is based on the Bitcoin code, but in the long term, Zcash is meant to correct some of Bitcoin’s flaws regarding privacy and anonymity. The Zcash roadmap also puts a lot of emphasis on interoperability and scalability.
Blockchain systems are transparent, but publicly available financial data can be controversial. That is why the platform has developed so-called zero-knowledge proofs that allow individuals and institutions to understand the communicated Zcash info without seeing private data. This feature is useful for tax payments. A user can prove that he paid his taxes without revealing the total amounts.